Congressional Budget Office: Immigration Makes America Stronger and Richer
By Curt_Anderson February 14, 2024 7:17 pm Category: Business (0.0 from 0 votes)
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“C.B.O. now expects the labor force to have 5.2 million more people in 2033 than the agency projected last year. Most of that increase results from additional foreign nationals in C.B.O.’s new population projections.”
That will boost the overall economy by $7 trillion over the next decade, the C.B.O. said, and add $1 trillion to the Treasury.
In CBO’s current projections, the number of people who are working or actively seeking employment continues to expand at a moderate pace through 2026. Higher population growth in those years, mainly from increased immigration, more than offsets a decline in labor force participation due to slowing demand for workers and the rising average age of the population. A large proportion of recent and projected immigrants are expected to be 25 to 54 years old—adults in their prime working years.
Get it? Immigrants are more likely than the native-born to be of prime working age and that's good for our economy.
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